A middle man that can bail out of consequences for free, while the public can never bail out of obligations and needs. There was something in game theory about such sequential games where one side can only loose if it plays.

Some use a lot more electricity than others (think companies and industries)

Public utilities receive unfair advantages like preferential financing, tax exemptions, and government infrastructure grants in your definition of subsidies, public utilities frequently receive some form of government support. (unfair as in not apples to apples comparison)